To have just a little information can create unnecessary risks to companies but to have too much or badly structured information can lead to what was defined a few years ago as Infoxication. And this intoxication produced by the excess of information can also lead to problems as important as insufficient information. In addition, some information may come from multiple sources that we must identify and track.
To do so, it is convenient to use business intelligence tools that allow the company to have a global vision of its client portfolio. This is vital to obtain complete, updated and relevant information at the right time. Thus, helping to take the most appropriate decisions for our business, by taking into account the different types of information:
• Internal information: besides being rich and updated, has no cost. However, it is necessary to manage their lack of structure and their subjectivity
• External information: it helps to assess the context in which the company evolves, but we must bear in mind that it has no structure nor is easy to deal with systematically
• Public information: this is usually abundant and objective, but the sources can be very dispersed and is difficult to use without being processed
To treat all this information, we need to rely on business intelligence tools to set aside the redundant and deepen what matters. Technological innovation makes it possible for tools to handle market information. Thanks to them, commercial credit risk management becomes accessible for all types of companies. That includes SMEs and the self-employed, who previously viewed this type of analysis as something exclusive to large companies.
The need for tools that are designed so that non-professional users can minimize their risk of default, instantly access commercial and financial information of companies with an easy way to interpret format that was and still is the leading market requirement.
Insight View is the only global Iberian solution that integrates the entire life cycle of a customer. It is an online solution, which allows companies, in an integrated way, to find new customers, analyze, qualify portfolios and manage credit risk. Summarizing, Insight View helps companies:
• To find customers and easily target companies that we want to do business with. It helps to effectively prioritize and improve the marketing efforts
• The tool analyzes the information of the portfolio of companies (partners, providers, prospects, customers or competitors) throughout the company business cycle. It monitors and improves the knowledge of customers and competitors.
• Insight view contains updated commercial and financial information for Portuguese companies their associated risk. It helps companies to identify low-risk businesses. The user receives daily alerts on the most relevant changes of the companies.
• In 2018 Insight View will expand the universe of companies available for consultation to other countries, benefiting from the connection of Iberinform Portugal through the BIGnet alliance network.